- U.S Markets closed lower yesterday.
- Right now Dow futures and Asian markets are mixed.
- SGX Nifty is at 17300.
- Ahead of FOMC meeting Market is under pressure.
- Markets can handle good news , bad news but cannot handle uncertainty.
- U.S Markets have fallen 4% in anticipation of Fed meeting so I feel negative news has been factored in.
- Today we might have some upside in U.S Markets.
- Fed has always been pro Market after the Lehmann brothers collapse.
- It's less likely they would come out with something very negative and disrupt the Markets.
- FII's have sold for 750 crores yesterday and hence Market was stable.
- FII's will be going inactive in last part of December.
- So we can expect volumes to reduce going ahead.
- Today we can expect an inside day within yesterday range on Nifty.
- Yesterday Midcaps and small caps closed in green.
- Only due to FII selling large caps were under pressure.
- 17400 CE added huge open interest yesterday.
- So Nifty might face stiff resistance in the range of 17400-17450 today.
- Yesterday's low of 17230-17250 should act as a good support today..
- Nifty might Trade between 17200 to 17450 today.
- stockmarketadvisory.in
1. U.S Markets closed lower on Friday. 2. Dow Jones was flat. 3. Nasdaq was the underperformer. 4. Gift Nifty is down 30-40 Points. 5. Asian markets are mostly lower as well. 6. Friday the Nifty opened with a gap down of 200 points. 7. Within the next 10 minutes , Nifty recovered 100 points. 8. Bulls expected recovery is on the cards but Nifty started to Crack. 9. Bank Nifty was holding up Nifty for most of the while. 10. It couldn't be able to provide much of a support and Bank nifty also began to correct. 11. The issue now is market has had vertical rallies. 12. One way quick rallies so now the downfall will also be vertical. 13. When markets go up quick , they come down quicker. 14. Infy dragged the mood and also HUL didn't post extraordinary results so it was also a laggard. 15. Banks tried hard to hold the markets but couldn't. 16. Over the weekend , AU Bank and icici bank reported very good numbers. 17. These banks have already rallied a lot before results
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